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Pin to quick picksStm Grp. Share News (STM)

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TRADING UPDATES: Treatt hikes dividend as earnings jump in year

Tue, 11th May 2021 14:12

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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Treatt PLC - manufacturer and supplier of natural extracts and ingredients for beverage, flavour and fragrance industries - Reports pretax profit before exceptional items up 71% year-on-year in the twelve months to the end of March to GBP10.4 million. Revenue, meanwhile, jumped by 14% to GBP60.8 million. Treatt declares a 2.0 pence a share payout for the year, up 8.7% on the prior year. The company says an improved performance was driven by an increase in margins from growth in higher value-added categories and improved citrus product mix. Treatt says it expects that ongoing investment in its capacity and innovation capability will fuel long-term growth.

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Polar Capital Global Health Trust PLC - investment firm - Reports net asset value per share improvement by 3.2% since the end of September 2020 to 276.63p as of March 31. NAV per ZDP share rose by 1.5% over the same period to 111.83p. The company's share price at the end of March stood at 242.00p, representing a 13% discount to NAV. In the same period the company's benchmark index, the MSCI AC World Daily Total Return Net Health Care Index in sterling with dividends reinvested, rose by 1.0%. This means that Polar Capital Global Health outperformed the benchmark as its NAV total return was 3.6%. The trust says dividends for the current financial year ending September 30, if declared, will be paid in August 2021 and February 2022.

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Summerway Capital PLC - company which invests in household and consumer goods sectors - Reports a loss after tax of GBP217,600 compared to GBP86,700 posted the year prior, reflecting operating expenses of GBP106,500, up form GBP97,900 the year ago. In addition, the company incurs one-off costs relating to the placing of shares and change in investment strategy of GBP92,200 versus none in financial 2020. Finance income, meanwhile, declined to GBP1,500 from GBP11,200 the year before. As at February 28, Summerway held GBP7 million cash, up form GBP5.5 million as at the end of August 2020.

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Conygar Investment Co PLC - property investment and development group - Reports NAV of GBP86.7 million, or 164.0p per share as at the end of March, down from GBP95.3 million the year prior. During the six months to the end of March, the company buys 740,000 shares, representing 1.4% of its share capital, at a cost of GBP810,000, which equates to an average price of 109.0p per share. The primary cash outflows in the half-year were GBP8.4 million incurred on development projects and investment properties, including GBP7.1 million to progress the development at Nottingham. These were partly offset by cash inflows of GBP1.0 million from the sale of King's Lynn and Fishguard lorry stop resulting in a net cash outflow during the period of GBP8.2 million.

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STM Group PLC - financial services firm - Reports pretax profit before exceptional bargain purchase gain of GBP2.0 million for 2020, down from GBP3.9 million posted in 2019. The decrease in profit is largely as a result of the higher professional indemnity insurance premiums, an increase which was seen across the market, which were introduced in September 2019 resulting in 2020 being a full year with these higher costs. Profit before other items climbed to GBP3.6 million from GBP3.5 million the year ago. Revenue rose to GBP24.0 million from GBP23.2 million year-on-year. STM Group increases final payout to 0.85p from 0.75p paid the year before. Total dividend stands at 1.40p versus 1.50p the year prior.

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Lexington Gold Ltd - gold exploration and development company - Reports net loss for 2020 from continuing operations was USD700,000 against the prior year loss of USD500,000. Total assets, meanwhile, jumped to USD5.5 million from USD400,000 recorded for 2019. The company does not currently generate any revenue as it is at the exploration stage after an acquisition of Global Asset Resources Ltd which, via its wholly owned US subsidiary, holds a 51% interest in and operatorship of four gold exploration projects in North and South Carolina in the US.

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AltynGold PLC - mining company - Says revenue jumped to USD10.1 million in the three months to the end of March from USD4.6 million reported a year ago, mainly driven by improved gold poured production and also by higher gold price. Production went up by almost 43% year-over-year to 131,733 ore mined, and the quantity of contained gold increase more than by 70% to 7,462 ounces. The positive momentum in production growth and improving contained gold is expected to be increased over the coming quarters, the company notes. AlynGold says it did not experience any negative effect from Covid-19 or interruptions on its production operations during the quarter.

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Vector Capital PLC - commercial lending group - Says GBP3.1 million gross proceeds from IPO, received in December 2020, have largely been deployed into new lending and will provide the base for drawing down further on debt facilities. The company says current trading in 2021 has been in line with expectations and its pipeline of new loan opportunities remains strong. Vector is now concentrating on loan book growth by enhancing its engagements with its broker network.

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Kromek Group PLC - supplier of detection technology - Achieves significant sequential revenue growth in the second half over the first half of its financial year to April 30, and expects to report revenue and earnings before interest, tax, depreciation and amortization in line with market expectations. The company says it continues to maintain tight cost control, improve collections and manage cash flow. Kromek says it is well-placed to capitalise on the opportunities across its business and continues to look to the future with increased confidence.

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By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
4 Apr 2024 12:25

IN BRIEF: STM updates on takeover and Pathlines buy of SIPPS firms

STM Group PLC - London-based cross-border financial services provider, operating in the UK, Gibraltar, Malta, Spain and Australia - Announces that the UK Financial Conduct Authority has approved the regulatory change of control applications made by Pathlines Holdings Ltd over the latter's acquisition of self-invested personal pension companies. Says the acquisition remains subject to the satisfaction or waiver of other conditions, including regulatory conditions. Also notes Jambo SRC Ltd has submitted regulatory change of control applications to the Gibraltar Financial Services Commission and the Malta Financial Services Authority over its acquisition of STM. Says these applications continue to progress. In December, STM shareholders voted in favour of the takeover, with the company expecting it would become effective in the second quarter of 2024.

Read more
23 Feb 2024 14:27

IN BRIEF: STM annual revenue rises amid interest income boost

STM Group PLC - London-based cross-border financial services provider, operating in the UK, Gibraltar, Malta, Spain and Australia - Says revenue for 2023 is GBP28.0 million, ahead of market expectations, as a result of higher than forecasted interest income. This is a 6.7% increase from GBP24.1 million a year ago. Adds that it incurred costs related to the acquistion of by Jambo SRC, as well as an additional GBP700,000 of exceptional costs. "These exceptional costs relate to the write down of certain non-cash items relating to the disposals of the companies and trust services subsidiaries in 2021," STM explains.

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23 Feb 2024 09:05

STM FY revenues seen ahead of market expectations

(Sharecast News) - Financial services provider STM Group said on Friday that full-year revenues were £28.0m, ahead of market expectations, driven by higher than forecasted interest income.

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6 Dec 2023 14:29

IN BRIEF: STM shareholders approve takeover by Jambo

STM Group PLC - London-based cross-border financial services provider, operating in the UK, Gibraltar, Malta, Spain and Australia - Says the majority of shareholders vote in favour of takeover by Jambo SRC Ltd. Says it will become effective in the second quarter of 2024.

Read more
29 Nov 2023 15:46

UK shareholder meetings calendar - next 7 days

Thursday 30 November 
Amur Minerals CorpAGM
Atlantic Lithium LtdAGM
Cordel Group PLCAGM
CQS New City High Yield Fund LtdAGM
DXS International PLCAGM
Europa Metals LtdAGM
Gabelli Merger Plus+ Trust PLCAGM
Kingswood Holdings LtdAGM
MC Mining LtdAGM
MGC Pharmaceuticals LtdAGM
NCC Group PLCAGM
Ovoca Bio PLCAGM
Revolution Bars Group PLCAGM
Roebuck Food Group PLCEGM re fundraising
Ruffer Investment Co LtdAGM
Friday 1 December 
Croma Security Solutions Group PLCAGM
HeiQ PLCGM re annual report approval
James Halstead PLCAGM
More Acquisitions PLCGM re capital raise
Myanmar Investments International LtdGM re cancellation to trading on AIM
Plaza Centers NVAGM
ScS Group PLCAGM
Monday 4 DecemberGM re additional listing on the NYSE
Diversified Energy Co PLCGM re purchase of 15% of the company's own shares
Palace Capital PLCAGM
PRS REIT PLC 
Tuesday 5 DecemberAGM
450 PLC 
Wednesday 6 December 
Alternative Liquidity Fund LtdAGM
Bowleven PLCAGM
Gattaca PLCAGM
STM Group PLCcourt meeting and EGM re takeover by Pension SuperFund Capital
VinaCapital Vietnam Opportunity Fund LtdAGM
Virgin Wines UK PLCAGM
  
Copyright 2023 Alliance News Ltd. All Rights Reserved. 

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10 Oct 2023 14:28

IN BRIEF: STM agrees to GBP40 million takeover by Pension SuperFund

STM Group PLC - London-based cross-border financial services provider, operating in the UK, Gibraltar, Malta, Spain and Australia - Agrees to takeover offer from Pension SuperFund Capital. The offer includes 60 pence per share in immediate cash and 7p in deferred consideration. The combined 67p matches the price at which STM previously had received undertakings from some shareholders to accept an offer. In total, 36% of STM shareholders have accepted the offer already. It values STM at up to GBP39.8 million. London-based Pension SuperFund helps UK companies to fund their defined-benefit pension schemes, offering pension risk transfers. STM offers workplace pensions and self-invested personal pension schemes. The acquisition will be conducted as a court-sanctioned scheme of arrangement, which is expected to become effective in the first half of 2024.

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28 Sep 2023 17:27

EARNINGS: Ukrproduct outlook uncertain amid war; Microlise revenue up

(Alliance News) - The following is a round-up of earnings by London-listed companies, issued on Thursday and not separately reported by Alliance News:

Read more
25 Sep 2023 14:13

IN BRIEF: STM Group not ready to relinquish interim CFO Neish

STM Group PLC - London-based cross border financial services provider - Extends interim Chief Financial Officer Therese Neish's contract until December 31. Neish rejoined STM as interim CFO on a 12-month contract in early October 2022, replacing former CFO Nicole Cole. She previously served as CFO from January 2014 until October 2021. STM had announced in early May that the process to find Neish's successor was underway and that she was expected to resign from the board on or around July 1. Company gives no reason for the extension.

Read more
15 Sep 2023 19:56

IN BRIEF: STM Group updates on offer from Pension SuperFund Capital

STM Group PLC - London-based cross-border financial services provider - Receives irrevocable undertakings to vote in favour of the revised offer from Pension SuperFund Capital in respect of 29% of its share capital, subject to an offer of no less than 67 pence in cash being made by September 27. Also receives letter of intent to vote in favour of the offer in respect of 3.4% of its share capital on the same condition.

Read more
8 Sep 2023 12:38

IN BRIEF: STM notes extended deadline for offer from Pension SuperFund

STM Group PLC - London-based cross border financial services provider - Notes UK Takeover Panel has extended the deadline for a 'put-up-or-shut-up' takeover offer from Pension SuperFund Capital GP II Ltd as general partner of Pension SuperFund Capital Reserve LP. Says the deadline has now been extended to September 27 from Friday for Pension SuperFund Capital to either announce a firm intention to make an offer or that it does not intend to make an offer. Says Pension SuperFund Capital is in the late stages of securing credit committee approval from its lending bank for a new credit facility, which would enable both parties to complete the further work required for Pension SuperFund Capital to make an offer. STM also says it is in the process of discussing irrevocable undertakings to vote in favour of the offer from certain shareholders. This would be on the basis that credit committee approval is received from Pension SuperFund's lending banker.

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5 Sep 2023 20:09

IN BRIEF: STM reaches agreement to sell all equity to PSF Capital

STM Group PLC - London-based cross border financial services provider - Reaches agreement in principle with PSF Capital GP II Ltd as general partner of PSF Capital Reserve LP over a possible offer for all company shares at a price of 70 pence each. PSF provides pension savings and pension risk transfers. Says offer conditional on disposal of certain parts of the group that are "non-core" to the strategy of PSF. This was after reaching the deadline for an announcement of a potential intention of a takeover offer.

Read more
22 Aug 2023 10:36

AIM WINNERS & LOSERS: Plexus surges as contract value rises

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.

Read more
22 Aug 2023 10:05

STM pushes back takeover deadline for second time

(Sharecast News) - Shares in AIM-listed STM Group dropped on Tuesday morning after the financial services company once again extended its deadline to agree terms on a takeover by Pension SuperFund (PSF) Capital.

Read more
22 Aug 2023 09:44

STM shares fall as extends deadline for intention announcement by PSF

(Alliance News) - STM Group PLC on Tuesday again extended the deadline for an announcement of a potential intention of a takeover offer by PSF Capital GP II Ltd, as general partner of PSF Capital Reserve LP.

Read more
15 Aug 2023 15:45

UK shareholder meetings calendar - next 7 days

Wednesday 16 August 
Cadence Minerals PLCAGM
Calnex Solutions PLCAGM
NextEnergy Solar Fund LtdAGM
NFT Investments PLCAGM
StreaksAI PLCAGM
VSA Capital Group PLCAGM
Thursday 17 August 
Harvest Minerals LtdAGM
Quantum Exponential Group PLCAGM
Windward LtdAGM
Yourgene Health PLCGM and court meeting re takeover by Novacyt
Friday 18 August 
Adams PLCAGM
ME Group International PLCGM re proposed share buyback
Oxford BioDynamics PLCGM re placing
Pathfinder Minerals PLCGM re disposal of the subsidiary
Monday 21 August 
Calculus VCT PLCAGM
Home REIT PLCGM re changes to the investment policy
Tuesday 22 August 
Cake Box Holdings PLCAGM
ReNeuron Group PLCAGM
RUA Life Sciences PLCAGM
Smoove PLCAGM
STM Group PLCAGM
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

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